Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by Sei Investments Co.

Sei Investments Co. grew its stake in shares of Texas Pacific Land Co. (NYSE:TPL) by 14.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 901 shares of the financial services provider’s stock after purchasing an additional 112 shares during the quarter. Sei Investments Co.’s holdings in Texas Pacific Land were worth $662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TPL. BOKF NA lifted its holdings in Texas Pacific Land by 1.1% in the second quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock worth $1,154,000 after purchasing an additional 17 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Texas Pacific Land by 2.9% in the second quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock valued at $555,000 after buying an additional 21 shares in the last quarter. Accordant Advisory Group Inc lifted its position in shares of Texas Pacific Land by 1.9% during the 2nd quarter. Accordant Advisory Group Inc now owns 1,382 shares of the financial services provider’s stock valued at $1,015,000 after acquiring an additional 26 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Texas Pacific Land by 9.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 323 shares of the financial services provider’s stock worth $234,000 after acquiring an additional 29 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TPL. BWS Financial reaffirmed a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th.

Texas Pacific Land Stock Down 1.4 %

TPL opened at $971.68 on Wednesday. The firm has a market capitalization of $22.33 billion, a P/E ratio of 51.66 and a beta of 1.60. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $995.71. The stock has a fifty day moving average of $855.03 and a 200-day moving average of $732.16.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The business had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. During the same quarter in the prior year, the company earned $4.35 EPS.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.48%. Texas Pacific Land’s dividend payout ratio is 24.88%.

Texas Pacific Land Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.